sebi:Order/AK/GN/2025-26/31998
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violation established; monetary penalty imposed ex-parte
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 15H
- s. 15J
- s. 28A
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 3(a)
- Reg. 26
Parties
- Amit Kumar Agarwal HUF
Holding
The Noticee violated Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of the PFUTP Regulations, 2003 by executing non-genuine reversal trades in illiquid stock options. A monetary penalty of Rs. 5,00,000 under Section 15HA of the SEBI Act, 1992 was imposed.
Full text
Adjudication Order in respect of Amit Kumar Agarwal HUF in the matter of Illiquid Stock Options Page 2 of 16 APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of Amit Kumar Agarwal HUF in the matter of Illiquid Stock Options Page 3 of 16 Such scheme can be a onetime scheme for this class of person. The terms of settlement should be attractive so that it could attract the noticees / entities to come forward and settle the matter which will ameliorate the harassment of penalty proceedings to the noticees and at the same time would help to clear the backlog of these pending matters before various AOs.” (Emphasis Supplied).
Adjudication Order in respect of Amit Kumar Agarwal HUF in the matter of Illiquid Stock Options Page 4 of 16 shall resume. Accordingly, an inquiry shall be held against you in terms of Adjudication Rules read with section 15-I of the SEBI Act, and penalty, if any, shall be imposed under section 15HA of the SEBI Act. In such case, you are called upon to file your reply within 30 days of receipt of this Show Cause Notice.”
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:Order/AK/GN/2025-26/31998. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.